Estee Lauder

8344 WordsFeb 6, 201134 Pages
1.0 INTRODUCTION 1.1 COMPANY’S BACKGROUND Estee Lauder Company was founded in 1946 by Estee Lauder and her husband Joseph Lauder. It is a manufacturer and marketer of four cosmetic product lines, which include skin care, makeup, fragrances and hair care products in the world. In U.S. prestige cosmetics category, Estee Lauder Companies has a market share of about 46 percent. In 1948, Estee Lauder established their first department store account with Saks Fifth Avenue in New York. During the next 15 years, the products were selectively distributed in other stores in the United States. By 1960, Estee Lauder was an international corporation selling their products in the famous Harrod’s Department Store in London. Within a few shorts, they…show more content…
1.2 VISION “Bringing the best to everyone we touch” 1.3 MISSION STATEMENT Estee Lauder Companies are a family company committed to working together with uncompromising ethics and integrity. They strive to always: * Provide customers with innovative cosmetic products of the highest quality. * Deliver outstanding service by treating each individual as we ourselves would like to be treated. * Create an environment that fosters personal growth and well being. * Build partnerships with our suppliers, retailers and colleagues based on fairness and trust. * Enhance our reputation of image, style and prestige. * Pursue profit, but never at the expense of quality, service or reputation. * Eliminate waste and reduce inefficiencies in order to provide maximum value to our customer. * Be responsible citizens in every community we serve. 1.4 CASE ISSUES 1. Net sales of fragrance products decreased which will eventually affect the overall sales of company. 2. High competition in the cosmetics business. Competitors are diversified with many brand names and a range of products. 2.0 EXTERNAL ASSESSMENT 2.1 External Factor Evaluation (EFE) Matrix for Estee Lauder, Inc Key External Factors | Weight | Rating | Weighted Score | Opportunities | 1) 70 million people across the globe will reach an income level that allows purchasing of cosmetic products in the next 20

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